Foodfest International 2000 Inc (OTCMKTS:FDFT) Gets a Second Round of Pumping

When a pump job fails miserably, or the people behind the pump don’t manage to dump all the shares they want on the first attempt, there are often second rounds. Today will be the second round for Foodfest International 2000 Inc (OTCMKTS:FDFT).

The stock was first promoted on Aug. 12 and that day 5.8 million shares were dumped on traders who bought the touts of the pumpers. The stock opened with a gap and it went downhill from there as FDFT closed down 58%, but losses for those who bought in early and didn’t get out quickly were actually as big as 75%.

While the nearly 6 million shares could be viewed as a successful pump effort, the fact remains, there are still hundreds of millions of shares people are looking to dump.

One of the outfits touting FDFT today operates Stock Rock and Roll and a few other newsletters. They have been paid $12.5 thousand dollars to pump FDFT. Apparently, this is enough of a compensation for the pumpers to go and say that FDFT “has a Super Low Float of just 469.2M.”

Yes – the M stands for million. While low float is not a clearly defined term, traders may want to consider that the total number of outstanding shares (OS) is approximately 582.2 million shares. This means that the float is actually about 80% of the OS.

The previous pump of the same outfit was Interactive Leisure Systems Inc (OTCMKTS:IALS), and it’s about 40% down since the outfit pumped it. The one before that was Exlites Holdings Int (OTCMKTS:EXHI), and it’s down about 75% since its pump.

Despite the fact that FDFT is an obvious pump job, there’s a decent chance the pump efforts will bring some volume and potentially a gap up, which would provide an opportunity for those who have shares to dump them on the market.